Steve Saville
Market Analyst & Professional Speculator, Owner of The Speculative Investor
Steve Saville graduated from the University of Western Australia in 1984 with a degree in electronic engineering and from 1984 until 1998 worked in the commercial construction industry as an engineer, a project manager and an operations manager. In 1993, after studying the history of money, the nature of our present-day fiat monetary system and the role of banks in the creation of money, Saville developed an interest in gold. In August 1999 he launched The Speculative Investor (TSI) website. Steve Saville has lived in Asia (Hong Kong, China and Malaysia) since 1995 and currently resides in Malaysian Borneo.
Steve Saville Articles
A reasonable definition of a bull market must be practical. This means that it must take into account the fact that what people really want from an investment is an increase in purchasing power, not just an increase in price. Figuring out...
The price of gold is dominated by investment demand* to such an extent that nothing else matters as far as its price performance is concerned. Investment demand is also the most important driver of silver’s price trend, although in silver’...
Many commentators like to speculate on where the dollar-denominated gold price is ultimately headed. Some claim that it is destined to reach $3,000/oz, others claim that it won’t top until it hits at least $5,000/oz, and some even forecast...
The answer to the above question is no, but it’s a trick question. Value is subjective and therefore can’t be stored, meaning that there is no such thing as a store of value. An ounce of gold, for instance, will be valued differently by...
Inserted below is a chart that compares the long-term inflation-adjusted (IA) performances of several markets. This chart makes some interesting points, such as: 1) Market volatility increased dramatically in the early-1970s when the...
If the future were 100% certain then there would be no reason to have any monetary savings. You could be fully invested all of the time and only raise cash immediately prior to cash being needed. By the same token, if the future were very...
The chart displayed near the end of this discussion is effectively a pictorial representation of what Keynesian economists call a paradox* (“Gibson’s Paradox”) and Austrian economists call a natural and perfectly understandable...
Until the S&P500 Index (SPX) broke out to the upside in early-July of 2016, we favoured the view that an equity bear market had begun in mid-2015. Supporting this view was the performance of NYSE Margin Debt, which had made what...
I published a blog post in late-June titled “Gold Has Peaked For The Year.“ In this post I argued that relative to other commodities (as represented by the Goldman Sachs Spot Commodity Index – GNX) gold’s peak for 2016 most likely happened...
A cottage industry has developed around manipulation-focused gold commentary. In this industry, gold’s price changes are portrayed as the outcome of a never-ending battle between the forces of good and evil, with the evil side constantly...
